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09/10/2015 Argonaut Morning Note

    Home Stockbroking & Research Morning Notes 09/10/2015 Argonaut Morning Note
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    09/10/2015 Argonaut Morning Note

    By admin | Morning Notes | 0 comment | 9 October, 2015 | 0

    U.S. Stocks End Higher after Fed Minutes
     

    U.S. stocks ended higher Thursday after investors reacted to the release of minutes from the Federal Reserve's most recent policy-setting meeting.

    Fed officials held off a rate hike in September as many thought downside risks had increased, according to minutes of the meeting released Thursday.

    Initial U.S. unemployment claims fell by 13,000 last week to 263,000, the lowest level since July and well below expectations of 273,000 claims. The less volatile four-week moving average was down 3,000 to 267,500.

    At the close, the Dow was up 0.8%, the S&P 500 was up 0.9%, while the NASDAQ was 0.4% higher.

    For Australian ADRs listed on the NYSE, BHP Billiton added $1.65 (4.63%) to $37.32, ResMed fell 16 cents (0.30%) to $53.91, Telstra Corporation added 2 cents (0.10%) to $20.37, Spark New Zealand slipped 2 cents (0.15%) to $9.92 and Westpac lifted 19 cents (0.86%) to $22.38.

    At 7:45 AM (AEDT), the 10-year Treasury note yield was 2.10% and the 5-year yield was 1.39%.

    Shares of EMC (EMC) were up on reports that Dell was considering a bid for the data-storage company. The deal would be one of the biggest tech deals of all time and comes as EMC is in the midst of a strategic review and a battle with activist investors.

    European shares finished higher.

    The French CAC 40 and Germany's DAX were each up around 0.2%, while the FTSE 100 lifted 0.6%.

    Asian markets were mixed.

    The Shanghai Composite rose 3%, while the Nikkei 225 was down 1% and the Hang Seng was off 0.7%. India's Sensex lost 0.7%.

    In This Issue

    Argonaut September Q Preview
    Argonaut provides a preview for the September Q 2015. Prevailing low metal prices were once again the feature with declines in the Chinese equity market raising concerns of a sharp slowdown in the Country’s commodity demand. Base metals were most impacted, with sharp price declines outweighing the positive impact of a weakening AUD. However, in the near to medium term, we see best value in the base metals sector. 

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